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Several programs issued funds to individuals and businesses to supplement income lost during the COVID-19 pandemic. Here are some common programs, how they are treated for tax purposes, and if they are included in household income.
If you received | Included in Minnesota Adjusted Gross Income? | Included in Minnesota Household Income? |
|---|---|---|
Economic Impact Payments | No | No |
Payroll Protection Program loans forgiven | No | Yes |
Small Business Administration loan payments made on your behalf under CARES Act section 1112(c) | Yes | Yes |
Restaurant Revitalization Grants | Yes | Yes |
Childcare Provider COVID relief grants | Yes | Yes |
For more information, see the instructions for line 24 of 2021 Schedule M1NC, Federal Adjustments, and pages 8 and 9 of the Property Tax Refund instructions.
If you are unsure about the treatment of income your client received, email taxpro.outreach@state.mn.us or call 651-556-6606.
Questions?
Contact us.
If you | Then |
|---|---|
Need help with your clients' accounts and have power of attorney on file with us | Contact the appropriate taxing division |
Have questions about tax law changes | |
Have general questions | Email taxpro.outreach@state.mn.us, or call 651-556-6606 |